Verticalnet (NASDAQ:VERT)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Verticalnet Charts. Click Here for more Verticalnet Charts.](/p.php?pid=staticchart&s=N%5EVERT&p=8&t=15)
Verticalnet, Inc. (Nasdaq:VERT), a leading provider of supply management
solutions, today announced the release of version 5.5 of the Verticalnet
XE Supply Management Suite. As of Monday, May 21, 2007, all on-demand
customers had been upgraded to this new release.
Verticalnet XE 5.5 includes a broad range of functional enhancements and
infrastructure improvements across the product suite. Verticalnet’s
product investment is focused on both customer based feedback as well as
on Verticalnet’s view of emerging trends
within the supply management industry. Increasingly, customers seek to
manage sourcing projects as part of an integrated work-flow driven
process, seek increased flexibility in the manner in which they
negotiate with specific suppliers as part of a multi-supplier sourcing
event, and require flexible reporting to enable sourcing savings,
sourcing activity, compliance data and supplier performance data to be
reported to different organizational constituents. Verticalnet XE 5.5
delivers product enhancements addressing each of these evolving trends.
"Maintaining and fostering strong supplier relationships is critical to
any supply management strategy. The ability to work one-on-one and
negotiate collaboratively with individual suppliers gives us additional
flexibility to create win-win sourcing agreements," says Christine
Miller, Associate Sourcing Director at Watson Pharmaceuticals, Inc., an
on-demand user of the Verticalnet XE Supply Management Suite since 2005.
“Best of breed sourcing organizations see
collaborative supplier negotiation as a way to reach savings, delivery
and reliability levels that were previously unattainable. Creating
mutually advantageous agreements with suppliers is at the heart of this
approach,” stated Nathanael V. Lentz,
president and CEO of Verticalnet. “In
addition, our customers manage global projects and need the ability to
coordinate and document complex projects in a structured manner.
Verticalnet XE 5.5 raises the bar for flexibility in negotiation, and
offers improved structured program management and enhanced reporting and
visibility.”
Key enhancements in Verticalnet XE 5.5 include:
Enhancing visibility and control:
Improved visibility to key auction metrics including level of market
competition, bidder comparisons, spend coverage, savings contribution,
and award impact;
Greater flexibility of organizational security models to facilitate
rapid team adoption;
Improving buyer efficiency with enhanced usability:
Accelerating project navigation and supporting more sophisticated
project workflows;
Allowing seamless movement between community based negotiations and
one to one collaborative negotiations;
Increasing depth of online analysis with “one
click” side-by-side viewing of quotation
responses with automatic preparation of Sensitivity, What-If, and
Tabular Summary views;
Laying the groundwork for expanded reporting capabilities:
Strengthening reporting infrastructure to support growing reporting
requirements;
Enabling customer-dedicated ad-hoc reporting and analysis environments.
“Verticalnet works closely with our customers
in setting the enhancement agenda for the XE product suite,”
stated Jim Wetekamp, Vice President of Solution Strategy of Verticalnet. “Focusing
on emerging market trends while placing a special emphasis on customer
driven functionality is what has fueled the impressive growth of the XE
Supply Management Suite.”
Verticalnet’s primary measure of customer
volume, electronic negotiation events in its XE platform, has surged
over the past 12 months and realized over 100% growth in the first
quarter of 2007 compared to the same period in 2006. During this time
frame, suppliers participating in negotiation events increased 600%. The
increases in customer volume and supplier penetration reflect the rapid
increase in value experienced by Verticalnet customers through their
focused programs to drive adoption of Verticalnet’s
on demand XE spend analysis and strategic sourcing solutions. Verticalnet’s
continued product investment in ease of use for both buyers and
suppliers, advanced program management capabilities, and advanced
analytics and reporting within the application has contributed greatly
to the increased application usage and the willingness of suppliers to
participate in on-line negotiations.
About Verticalnet
Verticalnet is a leading provider of supply management solutions that
enable companies to identify and realize sustained value across the
supply management lifecycle. Going beyond traditional spend management
and sourcing approaches, Verticalnet's solutions provide the visibility,
insight and process control required to maximize the sustained value
realization from supply management. Large enough to help customers
attain supply management success worldwide, yet nimble enough to provide
individual attention and remain focused on customer priorities,
Verticalnet has helped numerous Global 2000 companies take their supply
management efforts to the next level through an optimal blend of
software, comprehensive services, and deep category knowledge and domain
expertise.
To learn more, please visit us at www.verticalnet.com